04-10-2019, 02:32 AM
Here is a page from the Open the Books report on the Dept. of Education referenced above.
TOP 10 TAKEAWAYS
1.The 25 colleges and universities with the largest endowments in the country reaped $6.9 billion inDepartment of Education (ED) funding despite holding a quarter-trillion in existing assets, collectively.This money was distributed as grants, contracts, and direct payments (FY2017) as well as student loans(FY2017-FY2018).
2.The 50 lowest performing junior and community colleges in the nation received $923.5 million in ED stu-dent loans (FY2017-FY2018) and grants (FY2017). Of these 50 schools, the 10 which received the mostfederal funding had a 12 percent graduation rate, on average.
3.ED overpaid $11 billion in Pell grants and loans over a two-year period (FY2016-FY2017).
4. Nontraditional schools reaped millions of dollars in federal funding (FY2014-FY2017) such as an international school for video game design ($51.4 million), a school for wooden boat-making ($781,330), an Arizona college for gun-smithing ($10.4 million), a school for gambling and bartending ($9.5 million), and the Professional Golfers Career College ($4.5 million).
5.The average wage at ED in FY2017 was $109,918. The average employee cost taxpayers $143,992, in-cluding benefits. In May 2018, ED disclosed 3,818 employees – a large decrease from 4,642 employeesin 2012.
6.Nearly $700 million in federal funding flowed to schools of cosmetology, beauty, and hair, including mil-lions of dollars to industry juggernauts like Empire Beauty School ($65.6 million) and Tricoci Universityof Beauty Culture ($12.3 million) in the form of grants, direct payments, and contracts (FY2017), as wellas student loans (FY2017-FY2018).
7.Federal funding of $10.5 billion flowed to for-profit colleges in FY2017. Just 10 for-profit schools re-ceived nearly 30 percent of this funding. Many for-profit colleges have been cited for alleged discrimi-nation, harassment, and even fraud. This funding is comprised of grants, direct payments, and contracts(FY2017) as well as student loans (FY2017-FY2018).
8.ED spent $1.6 billion hiring companies to collect and disperse federal student loans.
9.ED employees spent 6,522 working-hours (FY2016) doing union activities rather than working their de-partment jobs. During this time, employees’ hourly wages are still taxpayer funded. This practice isknown as ‘official time.’ In March 2018, ED eliminated this policy, saving taxpayers roughly $500,000annually. Employee unions are private organizations, not public entities.
10.The top five recipient states claimed 36 percent of all ED funding: California ($18.6 billion), Texas ($12.6billion), New York ($11.9 billion), Florida ($9.5 billion), and Illinois ($7.2 billion). This funding includedgrants, contracts, direct payments (FY2017) as well as student loans (FY2017-FY2018)
https://www.openthebooks.com/assets/1/7/ED_Report_Final.pdf
TOP 10 TAKEAWAYS
1.The 25 colleges and universities with the largest endowments in the country reaped $6.9 billion inDepartment of Education (ED) funding despite holding a quarter-trillion in existing assets, collectively.This money was distributed as grants, contracts, and direct payments (FY2017) as well as student loans(FY2017-FY2018).
2.The 50 lowest performing junior and community colleges in the nation received $923.5 million in ED stu-dent loans (FY2017-FY2018) and grants (FY2017). Of these 50 schools, the 10 which received the mostfederal funding had a 12 percent graduation rate, on average.
3.ED overpaid $11 billion in Pell grants and loans over a two-year period (FY2016-FY2017).
4. Nontraditional schools reaped millions of dollars in federal funding (FY2014-FY2017) such as an international school for video game design ($51.4 million), a school for wooden boat-making ($781,330), an Arizona college for gun-smithing ($10.4 million), a school for gambling and bartending ($9.5 million), and the Professional Golfers Career College ($4.5 million).
5.The average wage at ED in FY2017 was $109,918. The average employee cost taxpayers $143,992, in-cluding benefits. In May 2018, ED disclosed 3,818 employees – a large decrease from 4,642 employeesin 2012.
6.Nearly $700 million in federal funding flowed to schools of cosmetology, beauty, and hair, including mil-lions of dollars to industry juggernauts like Empire Beauty School ($65.6 million) and Tricoci Universityof Beauty Culture ($12.3 million) in the form of grants, direct payments, and contracts (FY2017), as wellas student loans (FY2017-FY2018).
7.Federal funding of $10.5 billion flowed to for-profit colleges in FY2017. Just 10 for-profit schools re-ceived nearly 30 percent of this funding. Many for-profit colleges have been cited for alleged discrimi-nation, harassment, and even fraud. This funding is comprised of grants, direct payments, and contracts(FY2017) as well as student loans (FY2017-FY2018).
8.ED spent $1.6 billion hiring companies to collect and disperse federal student loans.
9.ED employees spent 6,522 working-hours (FY2016) doing union activities rather than working their de-partment jobs. During this time, employees’ hourly wages are still taxpayer funded. This practice isknown as ‘official time.’ In March 2018, ED eliminated this policy, saving taxpayers roughly $500,000annually. Employee unions are private organizations, not public entities.
10.The top five recipient states claimed 36 percent of all ED funding: California ($18.6 billion), Texas ($12.6billion), New York ($11.9 billion), Florida ($9.5 billion), and Illinois ($7.2 billion). This funding includedgrants, contracts, direct payments (FY2017) as well as student loans (FY2017-FY2018)
https://www.openthebooks.com/assets/1/7/ED_Report_Final.pdf
![[Image: 4CV0TeR.png]](https://i.imgur.com/4CV0TeR.png)
